LifeCare Holdings, Inc. develops, acquires, and operates acute long-term acute care (LTAC) hospitals in the United States. The company’s LTAC hospitals provide treatment for patients with complex medical needs requiring extended treatment, such as respiratory failure, chronic pulmonary disease, nervous system disorders, infectious diseases, and severe wounds. As of September 30, 2012, it operated 27 hospitals in 10 states consisting of 8 ‘hospital within a hospital’ facilities and 19 freestanding facilities with 1,390 licensed LTAC beds. The company was founded in 1993 and is headquartered in Plano, Texas.
5340 Legacy Drive
Plano, TX 75024
Founded in 1993
Grant Asay Intends to Resign as Executive Vice President of Operations of LifeCare Holdings, Inc
Nov 23 12
On November 18, 2012, Grant Asay, Executive Vice President of Operations of LifeCare Holdings, Inc. informed the company that he intends to leave his position at the company and pursue other employment opportunities.
LifeCare Holdings, Inc. Enters into Limited Waiver and Second Amendment to Credit Agreement to its Credit Agreement
Nov 6 12
On November 1, 2012, LifeCare Holdings, Inc. entered into a Limited Waiver and Second Amendment to Credit Agreement to its Credit Agreement, dated as of February 1, 2011, with LCI Holdco LLC, the requisite Secured Lenders and JPMorgan Chase Bank, N.A., as Administrative and Collateral Agent for the lenders under the Credit Agreement. Pursuant to the Agreement, the Administrative Agent and the requisite Secured Lenders have agreed to waive any Default or Event of Default during the Waiver Period arising from the failure of the company to make the required interest payment due on August 15, 2012 to the holders of its Subordinated Notes and to remedy such failure within the applicable 30-day payment grace period that ended on September 14, 2012, to waive any Default or Event of Default arising from the failure of the company to observe or perform certain other covenants, conditions or agreements contained in the Credit Agreement and to make certain amendments to the Credit Agreement to effect such waivers. The Agreement constitutes an extension of the waiver granted by the requisite Secured Lenders in the Limited Waiver and First Amendment to the Credit Agreement on September 14, 2012. The Waiver Period is the period from September 14, 2012 to the earlier of December 15, 2012 and the occurrence of any Waiver Default. A Waiver Default will occur immediately upon the occurrence of certain events, including the occurrence of a Default or Event of Default under the Credit Agreement not arising from the failure to make the interest payment on the Subordinated Notes, the entry into certain refinancing transactions, the making of payments under the Subordinated Notes, the making of payments under certain other outstanding indebtedness of the company without prior written consent of the requisite Secured Lenders, the occurrence of an event of default under the Indenture or the termination of the Second Waiver Agreement without consent of the requisite Secured Lenders or any material amendment to the company's existing employee retention plans or adoption of new employee retention plans without approval of the requisite Secured Lenders. The occurrence of certain other events, including the failure of the company to comply with the terms, conditions or covenants of the Agreement, will constitute a Waiver Default if such events remain uncured for five business days after written notice is given by the Administrative Agent or the requisite Secured Lenders.